“Microsoft Corp. said it will buy LinkedIn Corp. in a deal valued at $26.2 billion, giving the world’s biggest software provider access to a virtual Rolodex of connected business professionals,” Molly Schuetz reports for Bloomberg.
“Microsoft will pay $196 per share in an all-cash transaction, including LinkedIn’s net cash, is a 49.5% premium to LinkedIn’s closing price Friday,” Schuetz reports. “LinkedIn will retain its brand, culture and independence and Jeff Weiner will remain chief executive officer of the company, Microsoft said in a statement Monday.”
MacDailyNews Take: You know, like Nokia.
“LinkedIn shares surged 49 percent in premarket trading in New York to $194.63,” Schuetz reports. “Microsoft fell 3.7 percent to $49.60.”
Read more in the full article here.
MacDailyNews Take: Wild overpayment. There goes LinkedIn.
Nadella and Weiner discuss the acquisition: